A leading provider of helicopter services to the energy sector, transporting oil and gas workers to and from offshore drilling sites, is based in the United States, but operates in 30 countries around the globe.
Not only did they want a reporting system that could communicate across all 30 general ledgers, they needed a system that could consolidate and manipulate data across multiple currencies, multiple systems, in compliance with 30 different countries’ accounting rules and regulations (US GAAP, UK GAAP, IFRS).
Oh, and they needed it fast!
First, to get the lay of the land, we mapped all of their financial information. Then we set out to create a Global Enterprise Financial Application that would standardize their reporting process for all 30 countries.
Did we mention that they are a publicly traded company? That means they not only needed reporting for internal purposes but also for regulatory compliance.
Next, Sense Corp conceived an amazing new system that helped the client in two major ways:
- It automated processes that were previously performed manually, which led to greater transparency about where the numbers were coming from (the old system couldn’t link the numbers back to the original operational/financial entries).
- The new system was designed to be flexible enough to accommodate the needs of the individual countries yet still standardized so that different systems could talk to each other.
What made Sense Corp so perfectly suited for this challenge wasn’t just our exceptional expertise in accounting & finance. It was our combined mastery of business practices and data management that allowed us to complete the technology aspect.
The project was completed in nine months—including assessment, software selection and implementation.
Sense Corp also trained their employees on the new software.
Because the new system provides greater transparency, the client now has more confidence in the numbers they’re reporting.
The system is still in use today.